StockMarketWire.com - Symphony Environmental Technologies swung to a pretax loss of £2.22 million, from a profit of £0.42 million, in what it said was a disappointing year in terms of financial performance.

The company, which is a specialist in advanced plastics technologies, booked revenue of £4.94 million, substantially down from the prior year's £8.54 million.

"2012 was disappointing in terms of financial performance, but strong in terms of cash generation, and product and market development," Symphony said.

"There were delays in securing expected orders and the Group changed its trading polices in order to reduce foreign exchange and asset risks by improving the level of letter of credit or proforma based business," he said.

"This led to a reduction in revenues for the year."






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